Hudson City banks the old-fashioned way: It takes deposits and makes mortgages to people who buy homes in which they plan to live. And then it hangs on to them. No subprime, no securitization. Hudson City's bankers are steady daters in a wham-bam-thank-you-ma'am era. "We don't have Wall Street bundle up the mortgages and sell them to someone in Norway," Hermance says. "We're going to live with those loans." As a result, Hudson City maintains higher standards.